Indiana University of Pennsylvania

Indiana,

Arena / Conference Center Market Study, Business Plan, And Economic Impact Analysis

In 2004 B&D was retained by Indiana University of Pennsylvania to complete a market analysis and business plan for the proposed Regional Development Center, a multipurpose facility with public assembly, conferencing, and institution spaces. Our work included: community outreach efforts; interviews with business, community leaders, school staff, faculty and government agencies; a review of local arenas and conference centers; an analysis of project economics; and quantification of economic impacts. We found that the market could not attract the largest of events, but could effectively compete for smaller arena and conference facility events. Financial and sensitivity analyses led us to recommend a 150,000 SF facility with arena seating for 5,000. Later that same year, the university asked us to conduct an economic impact analysis that included quantifying: the non-recurring impacts from construction of the proposed facility; the recurring, annual impacts from its operation; and the indirect impacts from any new economic activity and new tax generation. The project we recommended to the university responded well to their needs in many areas and would serve as an invaluable recruiting tool. The 148,500 SF, $79 million Kovalchick Convention and Athletic Complex opened in March 2011.

IUP MODIFIES COMPLEX DESIGNS TO ADD HOTEL

Indiana University of Pennsylvania officials added a hotel to the plan to build the 150,000-square-foot Kovalchick Convention and Athletic Complex.

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